Good morning, everyone.
Did you see DatChat, Inc.’s (NASDAQ: DATS) 80%+ gain yesterday?
Bitcoin and crypto rallied all weekend. Then on Money Monday, DATS dropped a premarket PR full of buzzwords — metaverse, NFT monetization, and crypto wallets. It was beautiful. You have to appreciate them playing the game…
They know how to get traders excited.
And the fact that the stock had such massive moves on crypto, NFT, and metaverse news proves there’s interest in the space.
That’s exactly why I’m talking about NFTs so much lately…
And since I’ve shared a lot of NFT lessons over the last few days, maybe you’re ready to make your first NFT trade…
But where can you actually buy an NFT? Before you shop for any NFTs, start here.
And read on! Today, I’ll show you some of the most popular NFT marketplaces and what they offer. Plus, see an exclusive interview with an NFT trader and creator. Don’t miss it.
Before we dig in, I want to know something from you…
Are you struggling with trading emotions, big losses, or executions? Reply to this email and ask me your trading questions. I’m here for you. And I could answer your question in my upcoming special Q&A edition!
Table of Contents
Let’s Go NFT Shopping!
This is the fun part…
Once you have your favorite cryptocurrency in a wallet, you’re ready to shop for NFTs.
But like I touched on here last Friday, there are a ton of different NFT blockchains. You need the right marketplace that deals in your blockchain and cryptocurrency of choice. It also needs to be compatible with your crypto wallet.
Here are some of the most popular marketplaces and what they offer…
Ethereum NFT Marketplaces
OpenSea is currently the largest NFT marketplace. It supports Ethereum, Polygon, and Klatyn blockchains.
It also supports a wide range of popular crypto wallets like MetaMask, Coinbase Wallet, and TrustWallet.
Other well-known Ethereum NFT marketplaces include Rarible, SuperRare, and Nifty Gateway. Most marketplaces charge fees. OpenSea and Rarible both charge 2.5% per transaction.
But Nifty Gateway’s a little different. It’s a custodial platform that stores all the NFTs on the marketplace in a custodial wallet. That means transactions don’t occur on the blockchain. And traders can transfer, buy, and sell NFTs without gas fees. (Gas fees are what users pay for transactions on the Ethereum blockchain.)
It also allows users to purchase NFTs with their debit or credit cards. That can open up the world of NFT trading to many more traders.
But if you use one of the other Ethereum marketplaces, remember to account for gas or transaction fees on top of your purchase.
Solana NFT Marketplaces
If you want to trade NFTs on the Solana blockchain, you also have multiple options…
SolSea can be great for NFT creators who want to mint NFTs. It supports popular Solana wallets like Phantom, Sollet, Solflare, and more.
Solanart is another great marketplace option. It offers popular collections like Degenerate Ape Academy, Aurory, and Galactic Gecko Space Garage. But Solanart charges a 3% transaction fee — that can add up.
The most popular Solana NFT marketplace is Magic Eden. It has the highest trading volume and also offers popular collections. It has a lower transaction fee of 2% and supports almost all Solana wallets.
Interested in trading Solana or other NFTs? Watch STT’s Matt Monaco’s exclusive interview with a millionaire NFT trader here.
And don’t miss tomorrow’s BIG event where Tim Sykes’ student Adam Jarrett will share his three-step NFT trading system. Sign up here!
How to Choose the Right Marketplace
Just like the highest-volume stocks offer the best opportunities, so do the highest-volume NFTs.
More volume means more liquidity and more potential sellers and buyers. So start your NFT search on the marketplaces that support the most popular blockchains for NFTs — like Ethereum, Polygon, Cardano, and Solana.
And keep your eyes on the news for more players entering the marketplace space…
There are already rumors that a big crypto player could be getting into the NFT game SOON. It could expose millions of active crypto users to NFTs, which means even more volume.
Find out all about this future news catalyst in tomorrow’s once-in-a-lifetime event…
Thousands of people have already reserved their spots. Don’t miss it!
Have a great day. See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade